Question: Place each of the digits 6, 7, 8 and 9 in exactly one square to make the smallest possible product. What is this product? [asy]draw((0,.5)--(10,.5),linewidth(1));
draw((4,1)--(6,1)--(6,3)--(4,3)--(4,1),linewidth(1));
draw((7,1)--(9,1)--(9,3)--(7,3)--(7,1),linewidth(1));
draw((7,4)--(9,4)--(9,6)--(7,6)--(7,4),linewidth(1));
draw((4,4)--(6,4)--(6,6)--(4,6)--(4,4),linewidth(1));
draw((1,3)--(2,4),linewidth(1));
draw((1,4)--(2,3),linewidth(1)); [/asy]
Explanation: We want the smaller numbers to be in the tens places, so 6 and 7 go on the left and 8 and 9 go on the right. We now have two possibilities: $68\times79=5372$ and $69\times78=5382$. The smaller of these is $\boxed{5372}$, our answer.